Gulfstream increased business jet deliveries in Q1 2019
American manufacturer of business jets Gulfstream Aerospace (owned by General Dynamics) increased the number of deliveries of aircraft in the first quarter of 2019.
Compared to the same period last year, shipments increased from 26 to 34 aircraft. The growth is largely due to the increase in production volumes of G500 business jets, deliveries of which began in September 2018. To date, 17 G500s have been handed over to customers: 10 last year and 7 in the first three months of this year.
At a meeting with investors, Phoebe Novakovich, the Chairman and Chief Executive Officer of General Dynamics, explained that this quarter, orders for Gulfstream's business jets increased significantly, which outpaced the number of shipments. “We are seeing strong demand for Gulfstream aircraft. We have a family of completely new aircraft that attract customers so much, ”she said.
On March 30, the lag in the aerospace industry was $ 12.168 billion against $ 11.375 billion at the end of last year. First-quarter revenue for the aerospace division, which also includes Jet Aviation, increased by 22.7 percent compared to the previous year, to $ 2.240 billion, thanks to an increase in Gulfstream supplies and expansion of the aircraft maintenance business. Nevertheless, the profit fell by $ 18 million compared with last year.
Meanwhile, according to the CEO of General Dynamics, a new supply jump is expected in the second half of the year. It is assumed that this will happen to after receiving approval from the US Federal Aviation Administration.